Bitcoin (BTCUSDT) – Technical and Fundamental Analysis 1DBTC has formed a falling wedge pattern on the daily chart, indicating a possible bullish breakout. A clean break above the 0.618 Fibonacci level at $86,485 may trigger an impulsive move to the upside. Price is bouncing from wave (4) and challenging the descending trendline. RSI is recovering, suggesting renewed buying momentum, and MACD shows signs of a bullish reversal.
Fundamental Factors
Bitcoin remains supported by strong institutional demand and optimism around crypto ETFs. Expectations of lower interest rates and macroeconomic uncertainty continue to drive interest in BTC as a hedge. Meanwhile, on-chain data reflects accumulation, with exchange outflows increasing in recent sessions.
Scenarios:
Main scenario – breakout above 0.618 targeting $96,595 and $109,474, with a potential extension toward $125,842.
Alternative scenario – pullback toward $79,384. If this level fails to hold, further correction to $72,283 and $63,497 is possible. The $79K level remains a key support for bulls.
